HCMC – The National Assembly passed a resolution today, February 19, approving special mechanisms and policies for the development of the country’s first nuclear power project in Ninh Thuan Province, with 96.03% of the deputies present voting in favor.
The resolution, consisting of five articles, takes effect immediately, granting the Prime Minister the authority to appoint the investor responsible for implementing the Ninh Thuan nuclear power project, which will have two plants.
The Government is also authorized to award turnkey contracts for the construction of the plants under international agreements.
These contracts cover key aspects such as site approval documentation, investment planning, project design, technology and equipment supply, construction, and insurance procurement from foreign companies.
They also include provisions for nuclear fuel supply, as well as the operation and maintenance of the plants for five years after commissioning.
The assessment of technology, safety, and security in the early investment stages will be conducted through direct contracting.
Negotiations for international treaties and turnkey contracts will proceed in parallel with pre-feasibility studies, mine clearance, infrastructure preparation for electricity and water, and environmental monitoring.
The resolution emphasizes that all regulations, standards, and technical guidelines proposed by international partners must comply with International Atomic Energy Agency (IAEA) guidelines and meet or exceed Vietnam’s technical and safety requirements.
Regarding financial planning and capital arrangements, the Government is authorized to negotiate with foreign partners to secure funding according to the project’s needs and international commitments.
The investor is allowed to arrange counterpart funds through loans and bonds and may borrow under preferential conditions without bearing credit risks. The Prime Minister will determine the allocation of additional funding, budget savings, and other financing sources for the project.
The National Assembly has also waived the requirement for land-use conversion procedures for forest areas while emphasizing that the conversion of natural forests should be minimized.
